UMG spends $290m buying back stock from Bill Ackman’s Pershing Square, amid fund’s exit from music company (opens in new tab)

Covers Bill Ackman’s Pershing Square Set to Exit Universal Music Stake

UMG repurchased 14,156,285 of its ordinary shares at €17.66 each after its board recently rejected a takeover proposal from Ackman and Pershing Square. Source

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